Gulf Keystone Petroleum (LON:GKP) Stock Price Up 11.7% – Should You Buy?

Gulf Keystone Petroleum Limited (LON:GKP)’s share price shot up 11.7% on Monday . The stock traded as high as GBX 193.85 ($2.41) and last traded at GBX 190.60 ($2.37). 2,671,702 shares were traded during trading, an increase of 156% from the average session volume of 1,043,470 shares. The stock had previously closed at GBX 170.60 ($2.12).

Wall Street Analysts Forecast Growth

GKP has been the topic of a number of recent research reports. Canaccord Genuity Group lifted their price objective on shares of Gulf Keystone Petroleum from GBX 185 ($2.30) to GBX 200 ($2.49) and gave the company a “speculative buy” rating in a report on Thursday, January 23rd. Canaccord Genuity Group reiterated a “speculative buy” rating and issued a GBX 190 ($2.36) price objective on shares of Gulf Keystone Petroleum in a research note on Tuesday, October 8th.

Gulf Keystone Petroleum Stock Performance

The company has a debt-to-equity ratio of 0.03, a current ratio of 0.97 and a quick ratio of 2.18. The stock has a market cap of £413.26 million, a PE ratio of -6,353.33, a price-to-earnings-growth ratio of 0.06 and a beta of 1.22. The business has a 50 day moving average price of GBX 150.24 and a two-hundred day moving average price of GBX 135.36.

About Gulf Keystone Petroleum

Gulf Keystone Petroleum Limited engages in oil and gas exploration, development, and production in the Kurdistan Region of Iraq. The company operates Shaikan field that covers an area of approximately 280 square kilometers, which is located north-west of Erbil. It also provides management, support, geological, geophysical, and engineering services.